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  • FIRST POST
    • Citygirl1
    • By Citygirl1 5th Aug 18, 6:59 PM
    • 932Posts
    • 577Thanks
    Citygirl1
    Contactless Payments
    • #1
    • 5th Aug 18, 6:59 PM
    Contactless Payments 5th Aug 18 at 6:59 PM
    Hi, does anyone else use contactless payments all the time? I used to always use cash and just use my debit card for purchases over about £20 but now I'm using contactless for even a coffee and its like I'm not spending money, I'm just swiping a card and that's it.

    I feel cash is more controllable and not many people seem to use it these days.
Page 2
    • Mr_Singleton
    • By Mr_Singleton 7th Aug 18, 6:49 PM
    • 994 Posts
    • 1,934 Thanks
    Mr_Singleton
    Why is it a bizzare thread?
    Originally posted by Citygirl1
    Because as I pointed out the aversion to using contactless is not based on anything rational other than peoples fear of not being able to control there spending.

    How does having £10 in your pocket make it any less likely that you’ll spend £8 on a coffee and slice of cake? How does using contactless make it more likely? Sorry to say but it isnt the payment method but the person.

    Surprised to find that nobody has mentioned how filthy cash is. A study entitled “Survival of Influenza Virus on Banknotes” found that infectious virus can survive for several days on banknotes. Other research has shown that “some bank notes and coins contain traces of feces and pathogens like Escherichia coli (E. coli), salmonella and fecialstaphylococcus aureus, which can lead to serious illness.”

    As I said I’m contactless all the way.
    • robin58
    • By robin58 7th Aug 18, 11:47 PM
    • 2,705 Posts
    • 3,263 Thanks
    robin58
    Because as I pointed out the aversion to using contactless is not based on anything rational other than peoples fear of not being able to control there spending.

    How does having £10 in your pocket make it any less likely that you’ll spend £8 on a coffee and slice of cake? How does using contactless make it more likely? Sorry to say but it isnt the payment method but the person.

    Surprised to find that nobody has mentioned how filthy cash is. A study entitled “Survival of Influenza Virus on Banknotes” found that infectious virus can survive for several days on banknotes. Other research has shown that “some bank notes and coins contain traces of feces and pathogens like Escherichia coli (E. coli), salmonella and fecialstaphylococcus aureus, which can lead to serious illness.”

    As I said I’m contactless all the way.
    Originally posted by Mr_Singleton
    That study was dated 2008. We have changed the basic construct of notes to plastic ones since then.


    So do you also clean your mobile everyday?

    Especially after you have been flicking through your emails whilst sittng on the loo?
    The more I live, the more I learn.
    The more I learn, the more I grow.
    The more I grow, the more I see.
    The more I see, the more I know.
    The more I know, the more I see,
    How little I know.!!
    • Polarpenguin
    • By Polarpenguin 8th Aug 18, 1:10 AM
    • 49 Posts
    • 25 Thanks
    Polarpenguin
    Starling Bank. There is a thread on the banking board.
    Current account is purely app based. Real time alerts of money spent, usually before you've even put your card away.
    I top up from main current account and use for day to day spends. You can easily see where your money is going.
    Bonus it has no foreign exchange fees.
    • Out, Vile Jelly
    • By Out, Vile Jelly 8th Aug 18, 10:23 AM
    • 4,252 Posts
    • 14,535 Thanks
    Out, Vile Jelly
    I've disabled the contactless option on my debit card. This is nothing to do with impulse spending though; I am genuinely alarmed that we are heading towards a cashless society, where every aspect of everyone's lives is listed and available to the highest bidder, and where it will be a legal obligation to be permanently attached to a smartphone. That's another thread though.
    They are an EYESORES!!!!
    • Prinzessilein
    • By Prinzessilein 8th Aug 18, 10:40 AM
    • 2,549 Posts
    • 11,912 Thanks
    Prinzessilein
    I don't use contactless at all....There re two main reasons...

    First, I like to be in control of my limited finances. If I am paying for a small item (magazine...bottle of pop...whatever) then I want to keep track...contactless is too easy....swipe and bought without thinking.

    Secondly...there is very limited opportunity for contactless where I live...the smaller shops and the market are strictly cash only...many of them will not even take credit or debit cards.


    Also, I think some things are better done in cash....I think charities will get more by shaking a tin for spare coins rather than asking people to swipe their card!...And there is a small caf! near us which asks for cash payment as it is run by a charity helping young people with learning differences (the young people bake the cakes, make the coffee, wash up, serve and help at the till)...learning to handle cash is one of their skill-targets.
    • bouicca21
    • By bouicca21 8th Aug 18, 11:35 AM
    • 4,103 Posts
    • 6,547 Thanks
    bouicca21
    In my area all the independent cafes (and we have lots) are cash only.
    • mattpaint
    • By mattpaint 8th Aug 18, 11:45 AM
    • 240 Posts
    • 468 Thanks
    mattpaint
    I much prefer contactless. If you have cash and lose it, it's gone forever but if you lose your card then you're highly unlikely to lose any money and it takes two taps on your phone to cancel it and collect another from the bank. I really struggled with having to have change for the bus after I left London - it's so much easier to pay by card.
    • peachyprice
    • By peachyprice 9th Aug 18, 7:56 AM
    • 19,956 Posts
    • 46,189 Thanks
    peachyprice
    I do use contactless more and more now, even for small amounts, but I use it on my Monzo account into which I put my spends each week, not on my main bill account. It gives an instant notification on my phone and a running total of how much I've spent that day. I actually spend less doing it this way than if I have cash in my purse.
    Accept your past without regret, handle your present with confidence and face your future without fear
    • Rosemary7391
    • By Rosemary7391 9th Aug 18, 8:18 AM
    • 2,513 Posts
    • 4,278 Thanks
    Rosemary7391
    I much prefer contactless. If you have cash and lose it, it's gone forever but if you lose your card then you're highly unlikely to lose any money and it takes two taps on your phone to cancel it and collect another from the bank. I really struggled with having to have change for the bus after I left London - it's so much easier to pay by card.
    Originally posted by mattpaint
    I actually saved money once our buses started taking contactless. They're exact fare only and of course you can't find out what it is in advance, so I've had to overpay before. Now I just tap my card and it's much quicker than using cash.
    Slinkies 2018 Challenge - 0/80lb lost
    • DCFC79
    • By DCFC79 9th Aug 18, 8:25 AM
    • 33,157 Posts
    • 20,879 Thanks
    DCFC79
    I use online banking but I still find it hard to keep up with my budget with contactless payments as they don't show straight away and I somehow find it hard to sort out my budget.
    Originally posted by Citygirl1
    Consider Monzo, when you make a purchase you get a notification you have spent x amount at Tesco.
    • eddddy
    • By eddddy 9th Aug 18, 8:25 AM
    • 7,264 Posts
    • 7,217 Thanks
    eddddy
    ...learning to handle cash is one of their skill-targets.
    Originally posted by Prinzessilein
    I'm sure that the charity is doing great things for it's young people... but as time goes by, that will become more like saying "using a typewriter is one of their skill-targets".

    Perhaps "understanding, using, managing and reconciling contactless payments" is a more important skill-target for young people, as that's the way the world is going.

    (Particularly as some people on this thread suggest they have difficulty budgeting with contactless cards. Perhaps that illustrates the need to better educate young people about managing them.)
    • maman
    • By maman 9th Aug 18, 4:24 PM
    • 18,886 Posts
    • 112,717 Thanks
    maman
    I actually saved money once our buses started taking contactless. They're exact fare only and of course you can't find out what it is in advance, so I've had to overpay before. Now I just tap my card and it's much quicker than using cash.
    Originally posted by Rosemary7391

    That's a good point. I remember, back in the day, people taking utility bills into their building societies to get cheques issued to pay them exactly. That way they saved because otherwise they'd have probably drawn out cash to the next round figure and frittered the change away.
    • ColinB
    • By ColinB 16th Aug 18, 8:58 AM
    • 55 Posts
    • 25 Thanks
    ColinB
    Contactless ... card details on receipt ?
    I'm generally pretty happy with contactless and use it all the time. However I've come across a new issue that I've not heard anyone mention before.

    When you pay contactless you're asked if you want a receipt ... I used to say no, but now I ensure I get it. If I said "no", sometimes I saw the receipt got printed anyway and went straight in the shop's bin.

    If you look closely at the receipt you'll see it contains the card number. Usually this is mostly asterisked-out so you can only read the last few digits. But I've also come across some which print out the full 16 digits and the expiry date (not the CVV though).

    This seems like a potential fraud risk to me, and I'm really surprised that some shops do it. It would be too easy for someone to go through their bin later and harvest a bunch of card details. So I now make sure I get the receipt and can destroy it myself. So, do folks think there's a risk there or am I being unnecessarily paranoid ?
    • LameWolf
    • By LameWolf 16th Aug 18, 12:48 PM
    • 10,907 Posts
    • 119,927 Thanks
    LameWolf
    My issue with contactless isn't a fear of overspending (if it's not on my shopping list it doesn't get bought, no exceptions) but that I will, in the way people with lupus brainfog do, forget exactly what I have spent, and where I spent it, with the result that I cannot accurately fill in my spends on my spreadsheet when I get home (this is how I keep track of the household finances).

    I don't have a smartphone to be able to keep track that way; and one is not always even offered a receipt in some places.
    LameWolf
    If your dog thinks you're the best, don't seek a second opinion.
    • newatc
    • By newatc 16th Aug 18, 12:59 PM
    • 313 Posts
    • 361 Thanks
    newatc
    I find the reconciliation of contactless payments impossible for shops which I use regularly. I looked on my account and there are a good number of payments for Costa Coffee which I use regularly but never more than once a day. Yet there will often be days on the account which have multiple (usually only 2) entries on the same day so clearly the date is not the date of the transaction Frankly I can't determine where the total number is correct (seems a lot at times) so I have decided not to use contactless regularly in the same outlet (eg Costa).
    • mirko
    • By mirko 16th Aug 18, 1:08 PM
    • 167 Posts
    • 209 Thanks
    mirko
    At the end of every month I tally up just how much we spent on different categories like petrol, food, kids activities, pets, car etc.

    There's always a category called "CASH", which is when we use ATMs, I mean I have a decent idea where that cash has gone - a few things I need cash for - car parking at times, and breakfast clubs. However, I don't always know where all of it has gone.

    I use contactless as often as possible so I can track where the money has gone, even if it's 50p to Asda for a loaf of bread. If I see that on my bank statement at the end of the month I can put that in the "food" column.
    Now
    Mort: £119,090 - £120,076
    Loan: - £7,520 --- £7,520
    CCds: - £4,370 --- £4,500
    • Citygirl1
    • By Citygirl1 16th Aug 18, 1:31 PM
    • 932 Posts
    • 577 Thanks
    Citygirl1
    At the end of every month I tally up just how much we spent on different categories like petrol, food, kids activities, pets, car etc.

    There's always a category called "CASH", which is when we use ATMs, I mean I have a decent idea where that cash has gone - a few things I need cash for - car parking at times, and breakfast clubs. However, I don't always know where all of it has gone.

    I use contactless as often as possible so I can track where the money has gone, even if it's 50p to Asda for a loaf of bread. If I see that on my bank statement at the end of the month I can put that in the "food" column.
    Originally posted by mirko
    Can I ask how you log your finances? I have tried logging everything onto a spreadsheet but it soon goes pear shaped. Say if I buy some food and toiletries at the same store and they are on the same receipt I find it a pain separating them and calculating them within their category. Do you log everything you spend? I am using contactless just now and not even asking for receipts. I am finding it difficult to see what is left over at the end of the month too with contactless. When I was drawing cash out every week, whatever was left in my drawer at the end of the month went into my savings accounts. I can't seem to work it out the same. Any ideas please?
    • mirko
    • By mirko 20th Aug 18, 12:41 PM
    • 167 Posts
    • 209 Thanks
    mirko
    Can I ask how you log your finances? I have tried logging everything onto a spreadsheet but it soon goes pear shaped. Say if I buy some food and toiletries at the same store and they are on the same receipt I find it a pain separating them and calculating them within their category. Do you log everything you spend? I am using contactless just now and not even asking for receipts. I am finding it difficult to see what is left over at the end of the month too with contactless. When I was drawing cash out every week, whatever was left in my drawer at the end of the month went into my savings accounts. I can't seem to work it out the same. Any ideas please?
    Originally posted by Citygirl1
    I have that same issue.

    For example my wife bought school trousers on the weekly shop this week so an extra £10 will go on the "food" budget - which also includes cleaning goods.

    I don't have the patience to go through every receipt.

    It's not perfect.
    Now
    Mort: £119,090 - £120,076
    Loan: - £7,520 --- £7,520
    CCds: - £4,370 --- £4,500
    • peachyprice
    • By peachyprice 20th Aug 18, 2:40 PM
    • 19,956 Posts
    • 46,189 Thanks
    peachyprice
    At the end of every month I tally up just how much we spent on different categories like petrol, food, kids activities, pets, car etc.

    There's always a category called "CASH", which is when we use ATMs, I mean I have a decent idea where that cash has gone - a few things I need cash for - car parking at times, and breakfast clubs. However, I don't always know where all of it has gone.

    I use contactless as often as possible so I can track where the money has gone, even if it's 50p to Asda for a loaf of bread. If I see that on my bank statement at the end of the month I can put that in the "food" column.
    Originally posted by mirko
    Can I ask how you log your finances? I have tried logging everything onto a spreadsheet but it soon goes pear shaped. Say if I buy some food and toiletries at the same store and they are on the same receipt I find it a pain separating them and calculating them within their category. Do you log everything you spend? I am using contactless just now and not even asking for receipts. I am finding it difficult to see what is left over at the end of the month too with contactless. When I was drawing cash out every week, whatever was left in my drawer at the end of the month went into my savings accounts. I can't seem to work it out the same. Any ideas please?
    Originally posted by Citygirl1

    Monzo does all that for you. It gives you a breakdown at the end of every month, it also has 'pots' to separate out money.
    Last edited by peachyprice; 20-08-2018 at 2:42 PM.
    Accept your past without regret, handle your present with confidence and face your future without fear
    • suki1964
    • By suki1964 20th Aug 18, 3:38 PM
    • 11,471 Posts
    • 30,957 Thanks
    suki1964
    Im contactless all the way and I don't have any problem with seeing where my money is going

    My banks App is very good and updates immediately. Money that hasn't been taken out of the account is under pending, and contactless payments do seem to hang around a while before they are actioned but all the same my account will show X amount with Y amount available to spend

    It also allows me to split my spends, so even on the vary very rare occasion I take cash out, I can still split that up as to where and how I spent it

    At a glance I can tell how much I have spent on the car, food, household items, clothes, books - what ever way I decide to label my spends

    Its so much easier then cash

    And like Mr S, I have my cards on my phone which gives me the added security of thumb print recognition, plus I have all my store cards logged onto it so Im never out the house without them

    I only ever take car keys and phone out with me, no handbag, no pockets full of change

    And unlike citigirl, I rarely find Im spending when I shouldn't be as I often think to myself Oh I cant be bothered to scan my phone for the sake of a coffee, Ill wait till Ill get home
    if you lend someone £20 and never see that person again, it was probably worth it
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